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USDOLLAR – Turned Back from the Brink…Again

USDOLLAR – Turned Back from the Brink…Again

2016-09-08 19:25:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USDOLLAR – Turned Back from the Brink…Again

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Recent comments on the USDOLLAR have noted that “despite the surge post Brexit, price action since March 2015 may compose a major top. Resistance extends up to the year open at 12139 and April 2015 high at 12162.” The index continues to roll over from key price levels and I maintain that price action since Q1 2015 could compose a massive top with no decent support until the low 1100s. The 8/31 high serves as the near term bearish invalidation level.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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